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$ 599,000
Est. payment | /mo
$ 599,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Store W Apt/Office
Listing Status Active
Purchase Type For Sale
Subdivision 715 - South Stormont (Osnabruck) Twp
MLS Listing ID X12175658
Annual Tax Amount $3,276
Tax Year 2024
Property Sub-Type Store W Apt/Office
Property Description
Presenting a rare and versatile investment opportunity this unique commercial-residential duplex offers multiple income streams from one property. Featuring a garage/shop, a seasonal chip stand, and two residential rental units, this property is ideally suited for entrepreneurs or investors looking to capitalize on a diverse portfolio. Currently owner-occupied, the two commercial spaces have strong income potential and are projected to generate approximately $24,000 annually. The residential units are fully rented, producing a combined annual income of $39,600, bringing the total potential revenue to an impressive $63,600 per year. The front residential unit is a spacious three-bedroom suite rented at $1,800/month, while the rear two-bedroom unit earns $1,500/month. The owner currently covers utility expenses, including hydro (approximately $3,184/year) and propane (approximately $3,970/year). Property taxes are $3,276 annually, and insurance is $2,723. Based on these figures, the net income is approximately $50,847, resulting in a solid CAP rate of 8.23% not including additional income potential from the chip stand, which could be rented out separately for further revenue. Recent updates include a propane furnace installed in 2024 in the front unit and a propane fireplace added in 2025 in the rear unit. Additional improvements include a water softener system, on-demand hot water system, new flooring in the rear unit, and a rebuilt back deck. The garage/shop is well-equipped with two bay doors, removable floating walls, a hoist, and radiant ceiling heating well-suited for a range of commercial uses. The chip stand features a built-in water sprinkler system for fire safety and offers attractive seasonal or rental income potential. Please note: all other equipment and business assets are excluded from the sale. (CAP Rate 8.23%) No allowance has been made for utility costs in the unit occupied by owner as the use will change. Currently large cooling for food.
Location
Province ON
County Stormont, Dundas And Glengarry
Community 715 - South Stormont (Osnabruck) Twp
Area Stormont, Dundas And Glengarry
Zoning Commercial
Interior
Cooling No
Inclusions Garage hoist
Exterior
Utilities Available Yes
Lot Frontage 160.15
Lot Depth 153.56
Others
Security Features Partial
Listed by EXIT REALTY SEAWAY